Athletics stadium will cost £100m

The cost of building a state-of-the-art athletics stadium at Picketts Lock, in north-east London, capable of staging the 2005 world championships would be £100m, according to a confidential report into the scheme.

The millionaire businessman Patrick Carter, who drew up the report, warns that £40m would have to be raised through private means. Sport England has unofficially pledged £60m of National Lottery money and has received a copy of Carter's report, which for the first time puts a precise figure on how much the stadium would cost.

Sport England officials are to meet on October 1 to discuss the report and decide whether Picketts Lock should receive lottery funding. If the project for the 43,000-capacity stadium does not go ahead it could jeopardise Britain's chances of staging the 2005 championships.

The final decision on Picketts Lock will be made by the culture secretary Tessa Jowell and it must be forthcoming before the end of October when the contracts for the championships must be signed.